The Martlet Group (trading as I-Ride) - Administration

The Martlet Group (trading as I-Ride), a major UK cycling distributor best known for its own bike brand, Orro Bikes, entered administration on 27 September.

Although the company has yet to comment on the administration, it recently advertised a "huge overstock clearance" sale, suggesting it may be struggling with too much inventory.

Philip Armstrong and Philip Watkins of FRP Advisory were appointed joint administrators.

All staff have been made redundant.

Various HSBC parties have registered charges against the company.